Titagarh Rail Systems has approved the allotment of 21,11,932 fully convertible warrants to members of the Promoter Group on a preferential basis. The issue price is ₹947 per warrant, aggregating to ₹1,99,99,99,604. The decision was made during a Board of Directors meeting on November 4, 2025. The warrants can be converted into equity shares, and 25% of the issue price has already been received.
Warrant Allotment Details
Titagarh Rail Systems announced the allotment of 21,11,932 fully convertible warrants to members of its Promoter Group. This decision followed shareholder approval obtained at an Extra-Ordinary General Meeting held on August 8, 2025. The allotment was approved by the Management Committee of the Board of Directors on November 4, 2025.
Financial Aspects of the Allotment
The warrants were issued at a price of ₹947 per warrant, totaling ₹1,99,99,99,604. Each warrant entitles the holder to one equity share with a face value of ₹2. The company has already received 25% of the issue price, amounting to ₹49,99,99,901.
Breakdown of Warrant Allocation
The allotment was distributed as follows:
* Mrs. Rashmi Chowdhary: 15,83,951 warrants (₹1,50,00,01,597)
* Mr. Prithish Chowdhary: 5,27,981 warrants (₹49,99,98,007)
Terms and Conditions
Warrant holders can apply for equity shares upon paying the remaining 75% of the issue price within 18 months from the allotment date. These warrants are subject to a lock-in period as per regulations.
Source: BSE
